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About Electronic Transactions

The Residential Tenancies Bond Authority (RTBA) provides online bond transactions as Electronic Transactions. Bond lodgments, bond repayment claims and tenant transfers can be performed as Electronic Transactions.

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The electronic transaction facility is a secure internet portal within RTBA Online. All the required information and confirmations are collected as an Electronic Transaction without the use of a paper form.

Advantages of using electronic transactions

  • fast return of bonds repayments
  • the signature of tenants do not have to be provided
  • fewer bond claims being rejected because signatures don’t match
  • tenants can enter their bank account details for bond repayments
  • no postal delays
  • reduced administration costs
  • simpler tenant transfers

The electronic transaction facility is available to licensed estate agents and private landlords who register with the RTBA as an organisation managing one or more rental bonds. The RTBA calls these registered organisations “Property Managers”.

What you need to do?

From Monday 9 December 2019 the Residential Tenancies Bond Authority (RTBA) requires all licensed estate agents to use Electronic Transactions on RTBA Online for:

Lodging bonds

Seeking bond repayments

Transferring tenants on a bond

Property Managers who do not have access to electronic transactions should register themselves or their staff for Level 3 Administrator access at RTBA Online.

Go to the “How to guides” link on the RTBA Online home page for information on registering a Level 3 Administrator. An administrator can provide access to Electronic Transactions.

Exceptions

Where a transaction requiring the approval of a tenant is capable of being undertaken through RTBA Online, the Property Managers must conduct the transaction as an Electronic Transaction unless one or more of the tenants is unable to participate in an Electronic Transaction due to not having and not capable of getting:

  1. An email address separate from another party to the same bond or transaction.
  2. Access to the internet to receive an email and complete a transaction.
  3. The personal capability to undertake an internet based process.

The transactions which cannot be completed through RTBA Online are:

  1. Transfers from one Agent or Landlord to another Agent or Landlord.
  2. Where additional paper based evidence is required. These cases include:
    1. Transactions relying on a direction to the RTBA contained in an order of the Victorian Civil and Administrative Tribunal.
    2. Bond repayment claims or tenant transfers requiring proof of death or incapacity of one of the parties to the bond.
    3. Transactions requiring evidence that the Property Manager is currently managing the rented premises for which the bond has been paid.
  3. Such other cases that may be advised by the RTBA from time to time.

Overview of Electronic Transaction process

Using electronic transactions via RTBA Online

  1. The Property Manager enters the transaction details including the email address of each tenant

  2. RTBA Online sends an email and an SMS if a mobile is provided to each tenant with the details

  3. Each tenant uses the link in the email agreeing to the details

  4. If some of the details are incorrect, the tenant via the link in the email has the ability to modify them and send them back to the Property Manager for review.

  5. The Property Manager reviews and RTBA resends an email to each tenant with the correct information

  6. Once all tenants agree using the link in the email, the transaction is complete and receipts are issued to all tenants and the Property Manager.

  7. The RTBA Bond Register is automatically updated.

When the transaction is finalised, the next steps will depend on the transaction type:

  • Bond lodgments will trigger the bond money being taken by the RTBA as a direct debit from the Property Manager’s bank account. Lodgment receipts will also be issued to each party to the bond.
  • Repayment claims will trigger repayments to each of the payees as agreed in the Electronic Transaction.
  • Tenant transfers will trigger receipts to the revised parties to the bond.

Monitoring Electronic Transaction progress

The progress of an Electronic Lodgment, Electronic Claim and Electronic Tenant Transfer can be followed through the Bond Search function of RTBA Online.

Department of Housing (DoH) Loans

Lodgment of DoH Loans and Private Contributions

If the total bond consists of money provided by the tenants (private contribution) plus a bond loan from the Director of Housing (DoH), two separate bond transactions will need to be undertaken. Both the private contribution and the DoH Loan can be undertaken using the ET Facility. The DoH will make an electronic funds transfer to the RTBA for the amount specified in the Bond Loan Voucher supplied by the DoH.

Repayment Claims on DoH Loans

An Electronic Transaction can be used to make a repayment claim on a bond funded from a DoH loan where 100% of the bond is to be repaid to the DoH. This transaction does not require the approval of the tenant, and accordingly the tenant will not receive an email asking them to review the Electronic Transaction.

Where any part of a bond funded by the DoH is to be repaid to the Property Manager, a paper form must be used, accompanied by a copy of the VCAT Order directing the RTBA how to repay the bond.

Tenant Transfers on DoH Loans

Where a bond is paid by a DoH loan, the bond cannot be transferred to another tenant. (This restriction on the transfer of DoH loans applies to both Electronic Transactions and paper forms.)

Who do I contact for help?

If you need more information or assistance with electronic transactions, videos and instruction material help is available on the ‘how to guides’ link on RTBA Online home page, email us on rtba@justice.vic.gov.auOpens in new window, or call 1300 137 164.